ABSTRACT FROM CATO
Free trade has nothing to do with creating more jobs by enabling domestic producers to export. In fact, free trade does not create jobs; it merely shifts jobs between sectors. Through trade, the United States can obtain goods that other countries produce more efficiently, while concentrating on the industries in which we have the highest productivity. Creating more jobs in sectors that have higher productivities raises wages and the standard of living, as consumers can purchase from a more diverse selection of foreign goods that are significantly cheaper. Free trade is a right that all humans have, to enter into a contract with another individual, regardless of where the other person lives. Although free trade may hurt a small number of workers in certain industries, it has innumerable benefits for all Americans as consumers. The U.S. should not worry about the trade restrictions placed by other countries, lowering our own trade restrictions has enough benefits alone.
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